Streetbeat News

Acquisitions Mergers

BYDDY

HMC

NSANY

RNLSY

TSLA

Nissan Motor Co Ltd (OTC:NSANY) is investing in Renault SA's (OTC:RNLSY) EV unit, Ampere, and considering a partnership with Honda Motor Co Ltd (NYSE:HMC) to compete against rivals like Tesla Inc (NASDAQ:TSLA) and BYD Company Limited (OTC:BYDDY). Renault plans to sell a 2.5% stake in Nissan, aiming to reduce its stake from 43% to 15%. Nissan's new business plan, The Arc, includes launching 30 new models by May 2027, with 16 being electric, and aims to lower the cost of next-generation EVs by 30%.

Portfolio Pulse from Upwallstreet

March 27, 2024 | 4:06 pm

MPW

UNH

Medical Properties Trust's stock is trading higher following the announcement that its Steward Health Care division has agreed to sell its nationwide physician network to Optum Care, a unit of UnitedHealth.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 4:02 pm

DJT

META

NVDA

Trump Media & Technology Group (TMTG) debuted on NASDAQ with a valuation of $9.6 billion, 2000x its annual revenue, after a SPAC merger. The stock, previously under ticker DWAC, surged to $79.38, marking a 52-week high. Comparatively, NVIDIA trades at 38x estimated sales. TMTG's high valuation and potential as a meme stock could lead to volatility, especially with high short interest and the upcoming 2024 election cycle. Short sellers have already faced significant losses.

Portfolio Pulse from Chris Katje

March 27, 2024 | 3:59 pm

UNH

Steward Health Care is selling its nationwide physician network, Stewardship Health, to UnitedHealth's Optum Care unit to improve its financial situation. This move comes after Steward faced financial difficulties, falling behind in paying bills and rents for its 33 hospitals. The sale was announced by Optum's subsidiary, Collaborative Care Holdings, LLC, but the price was not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 3:58 pm

RGLD

Royal Gold Inc (NASDAQ:RGLD) received an upgrade from BMO Capital Markets from Market Perform to Outperform with a price target increase from $148 to $158, following a slight underperformance. The upgrade is based on a more compelling valuation given current commodity prices and the potential for growth through new stream and royalty deals, asset quality improvements, and possible M&A activities. Shares of Royal Gold rose by 6.24% to $116.93.

Portfolio Pulse from Priya Nigam

March 27, 2024 | 3:53 pm

AGIXUSD

FETUSD

OCEANUSD

Three blockchain-based AI firms, SingularityNET (AGIX), Fetch.ai (FET), and Ocean Protocol (OCEAN), are discussing a merger of their tokens into a new entity called ASI, valued at $7.5 billion. The merger aims to create a decentralized AI ecosystem, challenging the dominance of large tech companies. Each firm will continue to operate independently within a 'Superintelligence Collective'. Ben Goertzel and Humayun Sheikh are set to lead the initiative.

Portfolio Pulse from Murtuza Merchant

March 27, 2024 | 3:15 pm

CEIX

CSX

RCL

TSLA

The collapse of the Francis Scott Key Bridge, impacting the Port of Baltimore, has caused Tesla, Ford, and GM to seek alternative shipping routes. Ford anticipates a significant impact, while GM expects minimal disruption. European carmakers and cruise operators also anticipate adjustments, with Carnival Corporation forecasting a $10 million negative impact. Coal exporters and rail freight services face challenges, with Consol Energy and CSX Corporation noting potential operational impacts.

Portfolio Pulse from Neil Dennis

March 27, 2024 | 3:07 pm

ICLN

TAN

Treasury Secretary Janet L. Yellen is set to express concerns about China's green energy exports and their impact on American firms and workers in a speech. Yellen will highlight the market distortions caused by China's subsidized green technology exports. This comes as she visits Suniva Inc., a U.S. solar-cell facility in Georgia, highlighting the U.S.'s focus on reviving its green energy sector. The performance of U.S. green energy stocks, such as Invesco Solar ETF (TAN) and iShares Global Clean Energy ETF (ICLN), has been disappointing, with significant losses since early 2021. Yellen's upcoming visit to China aims to address these issues amid the Biden administration's push for renewable energy investments.

Portfolio Pulse from Piero Cingari

March 27, 2024 | 3:04 pm

STLA

Financial giants have shown a mixed sentiment on Stellantis (NYSE:STLA) options, with 50% bullish and 50% bearish trades. The trades indicate a targeted price range of $22.0 to $40.0 for STLA. The company, formed from the merger of Fiat Chrysler and PSA Group, is the world's fifth-largest automaker. Currently, STLA's stock price is up by 0.84% at $28.94, with an anticipated earnings release in 119 days. The options trading activity and the company's market position suggest a nuanced outlook.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 3:01 pm

BOLD

BOUNDLESS BIO, INC (NASDAQ:BOLD) is set to IPO on March 28, offering shares priced between $15.00 and $17.00. The company, a clinical-stage oncology firm focusing on ecDNA in oncogene amplified tumors, has a 180-day insider lock-up period ending on September 24, 2024.

Portfolio Pulse from Benzinga Insights

March 27, 2024 | 3:00 pm